Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 0.59% month over month in December. This brought the Manheim Used Vehicle Value Index to 161.1, a 14.2% increase from a year ago. Manheim Market Report (MMR) prices declined each week over the four full weeks of December, resulting in a 2.2% … Continued
Cox Automotive Chief Economist Jonathan Smoke and our Industry Insights team hosted a special webcast – “Cox Automotive Industry Insights 2021” – today, January 8, at 11 a.m. EST. The focus of our event was a review of both the new- and used-vehicle markets for 2020, as well as our forecasts for the year ahead. Afterward, we turned our … Continued
Bloomberg, Jan. 6, 2021 – Pandemic lockdowns have cost millions oflow-income Americans their jobs, while white-collar types whowork from home are flush with cash they can’t spend on dining ortravel. Instead, many of them are buying expensive cars.High-end trucks and sport utility vehicles are flying offdealer lots, but sales of entry-level compact cars andcrossovers remain … Continued
Our Chief Economist Jonathan Smoke joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. The latest on COVID-19’s nationwide impact Continuing jobless claims and impacts by state Consumer sentiment in the U.S. and in the largest DMAs Cox Automotive consumer survey … Continued
Good riddance, 2020! We’re closing the books on auto sales this week, and we’re glad to have our pandemic year in the rearview mirror. Our team is forecasting sales to end near 14.4 million, down roughly 15% compared to 2019 and putting 2020 on par with 2012, when the market was recovering from the Great … Continued
December auto sales will be in the books by the end of the week, and industry observers will have a clear view of how individual automakers performed in 2020. One thing we do know for certain, the market in December was awash with incentive programs. As measured by the Cox Automotive Rates & Incentives team, … Continued
ATLANTA, Jan. 5, 2021 – Cox Automotive has acquired Fyusion, a computer vision company and leader in immersive vehicle imaging solutions for automotive and other industries. This acquisition will deepen the collaboration between Manheim and Fyusion, which have worked together for years to give clients the wholesale industry’s best mobile imaging and condition capture tools in the Manheim … Continued
ATLANTA and INDIANAPOLIS, Jan. 5, 2021 – Cox Automotive today announced the acquisition of Dickinson Fleet Services, the leading mobile maintenance provider for medium and heavy-duty trucks and trailers in North America. This investment significantly bolsters the capabilities and geographic reach of Cox Automotive Mobility’s nationwide Pivet fleet services marketplace. Dickinson’s breadth of preventative maintenance … Continued
The last two weeks of December provided several key data points for November that revealed declining momentum in the economy. The holiday weeks also provided updated readings on consumer sentiment and confidence that did not indicate improving trends in the final month of the year. However, the weekly jobless claims data provided some encouragement, albeit … Continued
Our Chief Economist Jonathan Smoke joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. The latest on COVID-19’s nationwide impact Continuing jobless claims and impacts by state Consumer sentiment in the U.S. and in the largest DMAs Cox Automotive consumer survey … Continued
